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The owner of ScS is progressing plans to sell or float the UK’s second largest upholstery retailer with an IPO announcement possible within weeks.


Sun European — which in recent years has additionally picked up furniture and beds businesses Sharps and Dreams — acquired ScS out of administration in 2008.


Newspaper reports in November said Sun had hired Investec to explore sale of float options for the business. It is understood to be close to being able to announce a stock market float — which would be the second in the retailer’s history — with an expected valuation approaching £100m.


A spokesperson for the retailer cautioned, however, that an IPO was still far from certain. The retailer has also — Sky News reported last Friday night — lined up former Somerfield CEO Alan Smith as chairman.


Other director moves in recent weeks have seen ScS CEO David Knight appointed to the board at Sun’s ultimate holding company (Parlour Product Topco) along with finance director Ron Turnbull. Sun’s group finance chief Martin Clifford-King resigned his directorship of the ScS holding company at the same time.